Media group the Daily Mail and General Trust (DMGT) has acquired Jobrapido, the international recruitment-focused search engine.
DMGT is paying €30m for Jobrapido, which will be integrated into the digital recruitment arm of DMGT's consumer media business, A&N Media. The digital recruitment group will be renamed Evenbase, which DMGT said has been done in order to reflect the wider scope and international reach of the enlarged group.
The Jobrapido management team is sticking with the company and has signed up for "earn-out" incentives based on achieving agreed financial and business performance objectives.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Jobrapido achieved revenues of around €24m and profits of about €6m in 2011.
The company was established in Italy in 2006 by its Chief Executive, Vito Lomele. It is the second largest international job search engine in the world, delivering last year 660m visits from job seekers (most recently 32m unique visitors in March 2012) in more than 50 countries.
Keith Potts, Evenbase Chief Executive, said: "Jobrapido gives us access to job seeking candidates on a global scale and supercharges the transformation of our business model."
JH
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
